In today’s briefing:
- Newcrest/Newmont Conclusion Nearing – Flowfront & Gold Price
- Australia Real Estate: Long Goodman Group GMG and Short DEXUS DXS Pair Trade
- Millennium Services Group Ltd – Strongest Quarterly Revenue Growth Since H2 FY18
Newcrest/Newmont Conclusion Nearing – Flowfront & Gold Price
- Newcrest Mining (NCM AU) saw its shareholder meeting vote through the Scheme, then on teh 18th, the Special Div went ex-.
- Since then, as gold has rebounded sharply, Newmont Mining (NEM US) has underperformed peers and juniors (VanEck Gold Miners ETF/USA (GDX US)) since gold has spiked.
- Thursday is the last day of trading and there is a LOT of NEM to trade.
Australia Real Estate: Long Goodman Group GMG and Short DEXUS DXS Pair Trade
- In this insight, we explore the potential trade idea to Long GMG and Short DXS, among Australia REITs
- We propose this trade on the back of long-term attractive thematic and strong fundamentals of logistics sector and continued weakness of office sector, as well as company specific drivers
- GMG focuses on logistics and is a fund manager, and will continue to be strong. DXS is primarily driven by Sydney office market, which is facing multiple headwinds
Millennium Services Group Ltd – Strongest Quarterly Revenue Growth Since H2 FY18
- Millennium Services Group Ltd (ASX:MIL) has released its Q1 FY24 cash flow incorporating updated revenue commentary.
- Contracted revenue rose 14.3%, an acceleration on Q4 FY23 on the back of new contract wins and wage inflation.
- Total growth was 12.6%, the strongest growth since H2 FY18. Operating cash flow was negative $3.6m, a 23% improvement on the pcp (implying improved gross margins) with both impacted by the timing of collections and an additional fortnightly wage payment.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
